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Science Group PLC on Monday reported an increase in profit, as its interim results surpassed expectations, due to good growth across all divisions.
Science Group is a Cambridge, England-based science and technology consulting company.
It reported a pretax profit of £5.9 million in the six months, which ended June 30, reflecting an increase of 9.3% compared to £5.4 million a year before.
This was on revenue growth of 10% to £44.8 million from £40.7 million.
Science Group noted that these results were slightly ahead of its expectations.
The performance can be attributed to growth across all divisions, due to contract wins, the benefit of acquisitions and good demand, the company explained.
Science Group did not declare an interim dividend, unchanged from last year.
Looking forward, the company said it is ‘cautiously optimistic’ for the remainder of the year, in light of headwinds through inflationary pressures and ‘destabilising geopolitical events.’
It added that it was on track for another record year in 2022, due to the benefits from sector diversification and a strong dollar.
Shares were down 1.8% at 387.00 pence each on Monday in London.
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